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Norway Central Bank Cuts Policy Rate 25bps to 1.50%

March 14, 2012 by CentralBankNews   Comments (0)

Norway's central bank, Norges Bank, cut its key monetary policy rate by 25 basis points to 1.50% from 1.75% previously.  The Bank's Governor, Oystein Olsen, said: "The continuing downturn abroad and the strong krone are contributing to keeping inflation low and are weighing on growth in Norway. Against this background, the Executive Board has decided to reduce the key policy rate."  Further noting: "The current outlook suggests that the key policy rate may remain low longer than projected earlier. There is a high level of uncertainty regarding economic developments, and we have monetary policy leeway in both directions."

At its previous meeting the Bank slashed interest rates by 50 basis points, after increasing the interest rate by 25 basis points to 2.25% in May last year.  The Bank expects inflation to remain relatively low in relation to the 2.5 percent inflation target; Norway reported annual inflation of 1.2% in February this year, compared to 1.6% in September, 1.3% in August, 1.6% in July, 1.3% in June, 1.6% in May, and 1.3% in April last year.  


Norway's economy grew by 0.6% in the December quarter (0.8% in Q3, 0.5% in Q2, and -0.5% in Q1 last year), placing GDP growth at 1.5% on an annual basis (4% in Q3, -0.4% in Q2, and 0.9% in Q1). The Norwegian krone has weakened about 1% against the US dollar over the past year, while the USDNOK exchange rate last traded around 5.82

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NeXXCom Wireless Announces Unprecedented Speeds for Metropolitan Area High Frequency Trading

March 14, 2012 by mikeohara   Comments (0)

SAN DIEGO, CA, Mar 13, 2012 -- NeXXCom Wireless, a broadband wireless equipment and systems business with technology leadership in system latency and expertise in building ultra broadband networks where latency performance is critical, announces today that the company is delivering the lowest latency, multi-Gigabit Ethernet wireless links for metropolitan connections. These connections will specifically target High Frequency Trading firms.

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Mi retwitti?

March 14, 2012 by Roberto Grossi   Comments (0)

Essere un follower. Twittare. Ritwittare. Sono termini che si sentono sempre più spesso e, in molti casi, anche a sproposito.
Con un pò di ironia scherziamo sul gergo di twitter con questo video di Diego Bianchi.

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Central Bank News Link List - 14 March 2012

March 14, 2012 by CentralBankNews   Comments (0)

Here's today's Central Bank News link list, click through if you missed the previous link list.  Remember, if you want to submit links for inclusion in the daily central banking news link list, just email them through to us or post them in the comments section below.


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Central Bank of Sri Lanka Holds Repo Rate at 7.50%

March 14, 2012 by CentralBankNews   Comments (0)

The Central Bank of Sri Lanka held its benchmark repurchase rate unchanged at 7.50%, and reverse repurchase rate at 9.00%, and kept the Statutory Reserve Ratio at 8%.  The Bank said: "recent policy measures are expected to lead to a moderation of aggregate demand which will have a dampening effect on prices, thereby offsetting to some extent, the supply side pressures on prices as a result of the recent upward adjustments to administered prices. As a consequence, the Central Bank expects inflation in 2012 to remain subdued at mid-single digit levels. The Central Bank also expects the recent policy measures to decelerate broad money growth during the course of 2012 towards the targeted levels, thereby further easing future inflationary pressures."

Sri Lanka's central bank previously hiked rates by 50 basis points at its February meeting this year, meanwhile the Bank last cut its key interest rates in January last year.  Sri Lanka reported an annual headline inflation rate of 3.8% in January, 4.9% in December, and 4.7% in November, down from 6.4% in September, 7% in August, 7.5% in July, 7.1% in June, and 8.2% in May.  

Sri Lanka had targeted 8.5% GDP growth in 2011, after its economy expanded 8% in 2010.  Sri Lanka reported 8.2% annual GDP growth in the second quarter (7.9% in Q1).  The Sri Lankan Rupee (LKR) last traded around 124 against the US dollar. 

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